There are many different paths that people with degrees in biomedical engineering can take. Here are a few of the paths that I know of...
med school (doctor), PhD (biomedical research / professor), law school (patent law or other), engineer in industry
For Engineer in Industry, there are also many branches / paths: design of medical devices like orthopedic implants, cardiac pacemakers, MRI imaging machines, or developing drugs like oncology/cancer therapies, arthritis medications, or drug delivery devices like new implantable time-release chips, etc. Some people also end up in regulatory environments like working for the FDA reviewing new applications for drugs/devices, or in quality assurance designing quality systems for healthcare companies. I also know a few biomedical engineers who started their own companies - entrepreneurs. There are a ton of options!